Sostenibilidad

Latin America and the Caribbean play a crucial role in the transition to nature-positive economies. But what does this mean? It involves promoting an economic model that not only minimizes negative environmental impacts but also actively contributes to the regeneration and conservation of ecosystems. This approach is based on the idea that economic activities can and should be designed to benefit both people and the environment, creating a virtuous cycle of sustainable development.

Imagine a world where nature recovers on its own, rivers flow freely, forests thrive, and animals roam their habitats. This is what rewilding is all about—a conservation strategy that allows nature to regenerate and function autonomously. Now, imagine all this happening without compromising the supply of food, timber, fuel, and biodiversity products. It may sound like a distant dream, but fortunately, it is not. This process is already underway, and at the IDB, we are working to make it a reality!

The Colombian high-mountain region is constantly affected by the advance of urban footprints and the expansion of the agricultural frontier, which significantly contribute to the loss of biodiversity and the ecosystem services provided by the páramos. Additionally, the impacts of climate change are an external factor that threatens the health of ecosystems and the viability of many livelihoods in the high mountains.

To address climate change and meet the goals of the Paris Agreement, countries worldwide must undergo profound socio-economic transformations towards carbon neutrality. But what are the social impacts of this transition in Latin America and the Caribbean? How can a just transition be integrated into the climate change agenda? And what actions can governments in the region take to ensure that the shift to net-zero is both fair and inclusive?

No region in the world is immune to the negative impacts of climate change, felt either directly or indirectly. Latin American and Caribbean countries are among the most impacted. The Institute for Economics and Peace (IEP) predicts that 1.2 billion people could be displaced globally by 2050 due to climate change and natural disasters.

Latin America and the Caribbean (LAC) make up a rich and complex region, home of around 60% of terrestrial life, varied marine and freshwater flora and fauna (UNEP-WCMC, 2016). It encompasses mega-diverse regions such as the Amazon and includes the largest wetlands in the world, such as the Pantanal in Brazil or the Iberá wetlands in Argentina. LAC's biomes include deserts, tropical forests, grasslands, coastal and highland ecosystems.

IADB-financed projects must meet the requirements of the Environmental and Social Policy Framework (ESPF), which requires project implementing agencies to respect human rights and address human rights-related risks and impacts. IADB’s commitment to human rights includes those recognized in international and regional legal instruments.

Higher climate risks, higher financial costs

Barbados, like many Caribbean islands, faces significant vulnerability to a range of natural hazards, increasingly exacerbated by the negative impacts of climate change. With a quarter of its population and most tourism locations situated in coastal areas, the country has historically been impacted by tropical cyclones and their associated effects, such as flooding and storm surges.

“Vision without action is merely a dream. Action without vision is merely passing time. But vision with action can change the world,” said Prime Minister Mia Amor Mottley. These powerful words underline the country's commitment to deliver results and ensure we win the climate change battle, as Barbados has no choice. In a world where the effects of climate change are becoming increasingly dire, Barbados stands as a beacon of resilience and determination.